The pair traded within a range after the previous bullish recovery stalled near the upper boundary of the recent H1 structure. GBP/USD still holds above the key rebound base formed after last week’s low, but the market has clearly lost some upside momentum and is now correcting from the latest local highs.
For the full trading day, the pair remains in a constructive structure as long as it holds above the mid-range support zone, yet a clean continuation higher requires buyers to reassert control quickly. If that does not happen, the session may evolve into a broader corrective pullback inside the still-valid recovery channel.
Current price: 1.35148
Pivot: 1.35120
Nearest support levels: S1: 1.34940, S2: 1.34760, S3: 1.34520
Nearest resistance levels: R1: 1.35320, R2: 1.35540, R3: 1.35820
Note:
Above Pivot: If the pair holds above 1.35120, buyers may try to restore upside momentum toward 1.35320 and 1.35540. If the daily recovery strengthens again, the next wider target may come at 1.35820.
Below Pivot: If the pair slips back below 1.35120, the correction may deepen toward 1.34940 and 1.34760. A broader intraday decline may then expose 1.34520.
